343 Folly Rd Charleston, SC 29412-2527
Property profile & analytics
343 Folly Rd, Charleston, SC 29412-2527
- Turn key restaurants
- 2,317 SF
- 0.89 lot acres
Property ID
US77-0887195
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Wendy's / Restaurant / Take-out & Catering
Property Details for 343 Folly Rd
- Year built
- 1979
- Lot size
- 0.89 lot acres
- Property type
- Turn key restaurants
- APN
- 424-00-00-022
- APU
- 4240000022
Description
This exceptional investment opportunity presents a fee-simple ownership of a Wendy's restaurant located at 343 Folly Rd, Charleston, SC 29412. The property boasts a 2,317 square foot building on a 0.89-acre lot, featuring a drive-thru. Built in 1979, this single-story structure enjoys a prime location on Folly Road, with daily traffic exceeding 30,600 vehicles. The absolute NNN lease with the franchisee tenant commenced November 30th, 2024, and extends for 20 years, with four 5-year renewal options. Rent increases by 7.5% every five years, ensuring consistent income growth. The property's current Net Operating Income (NOI) is $175,000, yielding a 5.25% cap rate. The asking price is $3,333,333, translating to $1,438.64 per square foot. The property benefits from its proximity to numerous national retailers, including CVS, Arby's, Lowe's, and several banks, as well as numerous apartment complexes and new residential developments, ensuring strong customer traffic and long-term value. The Wendy's Company, a major fast-food chain, operates over 7,000 restaurants globally, generating over $2.2 billion in annual US revenue. This investment offers a secure, high-yield opportunity with significant upside potential. 100% occupancy is guaranteed from the lease commencement date.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,710,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Charleston
- County
- Charleston
- State
- South Carolina
- Longitude
- -79.9742
- Latitude
- 32.7579
- CBSA code
- 16700
- CBSA name
- CHARLESTON-NORTH CHARLESTON, SC METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$23,691
$0.00
$0.00
$71,360
-
$969,200
$360,900
$1,330,100
